Valve adjustment showed that most valves were on the tight side. The intake rocker on #3 had slid back against the spring. It slid back into place fairly easily. I'm thinking (and hoping) that somebody just got in a hurry when they put this thing together (the motor actually looks pretty fresh inside, outside came clean really easily with some simple green and a pressure wash). I'm just gonna pull the valve cover in a few days and check to make sure that rocker is holding in place.
Replaced the plugs and that turned up that one of the plug wires was snapped onto the little cap thing tightly, but that the cap wasn't threaded onto the spark plug (on again off again spark).

Timing chain is in correct position at TDC. (was told to double check that).

What it did figure out with the timing gun is that when I pull the throttle, instead of instantly starting to advance it is actually dropping roughly 20 degrees for about a second before going into a normal timing advance.
Anybody have any ideas what would cause that? It seems vacuum related as it happens right when i crack the throttle from a closed position. So far i just don't understand what all the different little vacuum lines run to. What sensors do what etc.

 

has anyone told you to clean the throttle body yet?

 

Now they have.... I think!?!?

Does it have anything (sensor etc) that would cause that timing dip?

 

Finally got it figured out/ fixed.
Bad TPS!
Figured it out by doing the volt ohm test on the old one. Well that was after doing a lot of reading to figure out how all the systems on the Toyota EFI system work together.

Truck runs like a scalded ass ape now! I'm super happy with it.